The PSDV will also be utilized for installation of shunt capacitors, series compensators and other reactive energy generators for improvement of voltage profile in the grid and Installation of standard and special protection schemes, pilot and demonstrative projects, and for setting right discrepancies identified in protection audits on regional basis.

NASDAQ: PSDV, ASX: PVA), a leader in developing sustained release, drug delivery products for treatment of back-of-the-eye diseases, including the investigational drug ILUVIEN[R] for the treatment of Diabetic Macular Edema, announced today that it has completed the sale of 2,210,000 shares of the Company's common stock and warrants to purchase 552,500 shares of its common stock to institutional investors for gross proceeds of $11.

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